What Jobs Are There in Accountancy?
The world of accountancy offers many career paths and jobs to pursue for professionals either starting a career in the field or looking to progress further. Offering a diverse range of roles that vary in responsibilities and seniority, a career in accountancy provides opportunities for professionals to progress further in their career or specialise in a subject that is suited to them.
Accountancy Jobs for Different Levels of Experience
Accountancy firms often advertise roles that vary in the level of experience required, providing opportunities for individuals to start a new career in accounting or for professionals to climb their career ladder and progress through the ranks.
Entry-Level Positions in Accountancy
Entry-level positions in accountancy firms are attainable positions for individuals with minimal experience or qualifications in the field. These low-level positions typically require minimal responsibility and provide individuals with experience working in an accountancy firm to understand how they run and develop vital financial-related skills.
The average salary for an entry-level accountancy position is between £18,000-£25,000, depending on the location, type of role and accountancy firm.
Accounting Clerk
An accounting clerk is a role that entails supporting the accounting and finance departments by completing typical administrative or clerk tasks:
· Data entry into accounting systems
· Processing invoices
· Managing payable and receivable accounts
· Maintaining financial records
· Financial reporting
· Ensuring company compliance and auditing
Junior Accountant
A junior accountant’s role is to support senior accountants in their day-to-day activities and contribute to the organisation of financial documents:
· Financial record-keeping
· Completing audit reports
· Assisting with budgets
· Invoice processing
· Financial data analysis
Accounts Payable/Receivable Clerk
An accounts payable/receivable clerk is responsible for managing financial transactions for accounts payable (money that the company owes) and receivable (money that is owed by customers):
· Invoice processing
· Payment processing
· Producing expense reports
· Record keeping!
· Financial reporting
Mid-Level Positions in Accountancy
Those in entry-level positions can progress in their career and gain mid-level positions which require larger strategic approaches including financial forecasting and crucial financial planning. These types of roles often require an individual to work closely with senior members of the company regularly.
Moving to a mid-level position in an accountancy firm
The average salary for a mid-level accountancy position is between £30,000-£50,000, depending on the location, type of role and accountancy firm.
Staff Accountant
A staff accountant’s role is similar to a junior accountant position; however they are more responsible for larger projects such as financial planning for new ventures or larger budget management:
· Large budget planning and forecasting
· Preparing financial statements
· Compliance assurance
· Detailed financial data analysis
Tax Accountant
A tax accountant’s role is to prepare and submit annual income tax returns to improve tax efficiency and reduce tax spending:
· Detailed analysis of financial records
· Identify opportunities to minimise tax deductions
· Completing and submitting tax returns
· Develop strategies for tax efficiency
Auditor
An auditor’s role is to examine and verify a company’s financial records to ensure accuracy, identify potential issues and offer financial advice for improving efficiency:
· Gathering, organising, and analysing financial data
· Analyse cash flow and balance sheets
· Create financial reports
· Communicate risk assessments
Senior Positions in Accountancy
Day-to-day activities for a senior-level position require leadership qualities and the ability to make important decisions. Due to the larger responsibilities taken, senior roles typically require an individual to have around 10+ years of experience in accounting and financial management.
The average salary for a senior-level accountancy position is between £50,000-£80,000 depending on the location, type of role and accountancy firm.
Senior Accountant
Holding large responsibility for the performance of an accounting department, a senior accountant is responsible for liaising with the accounting manager and mentoring junior members to improve their development:
· Detailed financial planning
· In-depth budgeting and accurate forecasting
· Coordinating audits
· Compliance assurance
· Oversee month-end and year-end closings
· Leadership and mentorship of junior members
Accounting Manager
As the most senior member of an accounting team, the accountant manager is primarily responsible for managing a team of accountants by monitoring their activities and overseeing their work:
· Lead a team of accountants and monitor their activity
· Finalise financial reports
· Oversee budget forecasts and planning
· Provide financial insights and analysis for senior decision-making
· Oversee compliance assurance
Financial Analyst
A financial analyst must collect an array of financial data and trends to analyse and help other departments make informative decisions for their own strategic planning and investment opportunities:
· Collecting and analysing financial data
· Develop financial models
· Investment analysis
· Conducting market research
· Communicating across multiple departments
· Create detailed financial reports
